The panic of 1873?

Question

1 ) lasted for 8 years
2 ) affected the south more than outher sections of the country
3 ) finally ended with the recall of all greenbacks from circulation
4 ) was the worst depression that the u.s had experianced up until that time

or

5 ) resulted in the election of ulysses s. grant

Answer 1

The end of the Civil War saw a boom in railroad construction, with 35,000 miles of new track being laid across the country between 1866 and 1873. The railroad industry, at the time the nation's largest employer outside of agriculture, involved large amounts of money and risk. A large infusion of cash from speculators caused abnormal growth in the industry. Cooke's firm, like many others, was invested heavily in the railroads.

The firm's bankruptcy created a domino effect, causing major upset to the economy of the United States. The New York Stock Exchange closed for 10 days. Of the country's 364 railroads, 89 went bankrupt. A total of 18,000 businesses failed between 1873 and 1875. Unemployment reached 14 percent by 1876, during a time which became known as the Long Depression.

Answer 2

The panic of 1873 was definitely caused by an overcirculation of money and the making of greenbacks which did not have the backing of gold specie cheapened our money. We did not want to eliminate the greenback but to remove some from circulation would bring a necessary balance to the economy. answer D

Answer 3

Number 4 is correct, one way of correcting the panic was to remove greenbacks but not completely

Answer 4

all of the above